Issue 16-04: Housing Starts
January 12, 2016
The number of housing starts in the province’s urban municipalities (with population of at least 10,000) ended the year with a surge (+26.2%, seasonally adjusted) in December, bucking the national trend. Canadian starts were down 19.1%, as new building activity receded in seven provinces. Along with B.C., Quebec (+31.9%) and Manitoba (+27.4%) escaped the general malaise. Meanwhile, starts plummeted in Ontario (-39.0%) and Alberta (-41.0%). Nationally, the decline was attributable to volatility in markets for multiple-family units. In B.C., starts of single-detached housing in urban areas of the province increased a moderate 3.5%, but builders of apartment units ramped up construction more substantially (+65.7%).
Data Source: Canadian Mortgage and Housing Association